“Starbucks will continue to invest in the growth, innovation and development of the Teavana brand of teas in its stores and in channels outside its stores,” Starbucks said in a statement.

It continued: “The tea category in Starbucks stores continues to grow double-digits globally, with Starbucks well on its way to building the Teavana business to over $US3B over the next five years.”

Tazo was founded in 1994 and purchased by Starbucks for $US8.1 million in 1999. The brand, which is primarily available in grocery and convenience stores, encompasses packaged teas, K-Cup pods, and bottled beverages.

Despite these decision, Starbucks is making major investments in its tea business.

According to the company, customers bought more than $US1.6 billion worth of Teavana beverages in stores in the past year. Starbucks is also building its bottled tea business, launching ready-to-drink premium Teavana Craft Iced Teas with Anheuser-Busch InBev in 2016 and planning to enter the packaged tea category next year.